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Corporate Governance

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In February 2020, the Chairman of the Securities and Commodities Authority (SCA) has issued Board Resolution No. (03/R.M) of 2020 which adopts the new Corporate Governance Guide for Public Joint-Stock Companies (the Resolution). The Resolution will come into force on 28 April 2020 and will repeal the previous SCA Chairman Resolution No. (7 R.M) of 2016 on the Standards of Institutional Discipline and Governance of Public Joint-Stock Companies. The Resolution introduces new corporate governance rules…

As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world, governments are actively working with global and local health authorities to implement nationwide measures to help curb transmission and mitigate virus-related risks as well as offer relief for businesses and individuals in these challenging times. In response, businesses and government institutions across the UAE are taking necessary action to minimise the impact of the pandemic on their operations, workforce and supply chains, in…

The Dubai Multi Commodities Centre (DMCC) Authority has recently issued new rules and regulations (the New Regulations) to aid the process of incorporation of companies and doing business in the DMCC more generally. The New Regulations have come to effect as of 2 January 2020.With the New Regulations, the provisions of the UAE Federal Commercial Companies Law No. 2 of 2015 no longer apply to DMCC Companies, indicating that the New Regulations are intended to…

In the past year the United Arab Emirates (UAE) has witnessed a number of important developments in the area of compliance and financial crime which will have a significant impact on the risk exposure of companies operating in the UAE for the foreseeable future. Over time, collectively, these changes will have a profound impact on the compliance environment in the UAE, particularly as it relates to financial crimes, and companies can no longer approach compliance issues casually.